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The last thing you want to do is raise taxes in the middle of the recession because that would just suck up and take more demand out of the economy and put businesses in a further hole.
Barack Obama
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Interpretation

What this quote means

Raising taxes during a recession can harm the economy by reducing demand.

In this quote, Barack Obama emphasizes the negative impact of increasing taxes during a recession. He argues that such a move would diminish consumer demand, further exacerbating economic struggles for businesses and potentially prolonging the downturn. This perspective highlights the importance of maintaining economic stimulation during difficult financial times rather than imposing additional burdens on individuals and enterprises.

Themes

TaxesRecessionEconomyDemandBusinesses

In practice

Example use cases

In a discussion about economic recovery strategies.

More from Barack Obama

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Now we're in the midst of not just advocating for change, not just calling for change - we're doing the grinding, sometimes frustrating work of delivering change - inch by inch, day by day.
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Simple exchanges can break down walls between us, for when people come together and speak to one another and share a common experience, then their common humanity is revealed. We are reminded that we're joined together by our pursuit of a life that's productive and purposeful, and when that happens mistrust begins to fade and our smaller differences no longer overshadow the things that we share. And that's where progress begins.
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We've had every official in Hawaii, Democrat and Republican, every news outlet that has investigated this, confirm that, yes, in fact, I was born in Hawaii, Aug. 4, 1961, in Kapiolani Hospital.
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What is required of us now is a new era of responsibility - a recognition, on the part of every American, that we have duties to ourselves, our nation, and the world, duties that we do not grudgingly accept but rather seize gladly, firm in the knowledge that there is nothing so satisfying to the spirit, so defining of our character, than giving our all to a difficult task. This is the price and the promise of citizenship.
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